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The U.S. Treasury Department Wednesday announced that 61 community banks across the country received a total of 608 million dollars as part of the next wave of funding provided through Small Business Lending Fund,(SBLF), to help small businesses grow and create new jobs.

The growing threat of default by Greece on its debt is the big factor driving China stocks sharply lower (along with other stocks around the world). Hong Kong's Hang Seng Index fell 3.4% Tuesday and has plummeted 7.6% in the last two days. A default by Greece looms so large, it's almost easy to forget that there are China factors at work also adding to selling pressure.

The lack of expected resolution to financial problems in the eurozone and weak manufacturing reports hurt oil service sector stocks in trading today. Halliburton was especially hard hit as overseas earnings failed to excite the investing community.